Is It Too Late To Mine Monero XMR
Monero (XMR) is a Cryptonight. Anyone can mine Monero with a CPU or GPU using MinerGate’s mining software. Is It Too Late for Barry Silbert’s Scaling. Looking for XMR/AEON mining pools with small. Monero mining question? Can mine with both CPU and GPU? 1 12 comments. Is it too late?
Get Bitcoin And Monero Before It Is Too Late! (And make a XMR Wallet) With Any Newer AMD Graphics. Today am going to teach you how to mine Monero / XMR with. Find out what your expected return is depending on your hash rate and electricity cost. Find out if it's profitable to mine Bitcoin, Ethereum, Litecoin, DASH or Monero.
Since the beginning of the second half of 2017, I call myself a proud crypto investor - currently investing in the 4 major cryptocurrencies - bitcoin, ethreum, litecoin and ripple. Starting July 2017, using I keep buying crypto coins once in the month. So far, the total crypto portfolio shows an awesome 132.98% year to date value growth. Update, lately I've been playing with bitcoin cloud mining contracts from HashFlare, see (Affiliate link here - if you will click, register and decide to invest, I might earn 10% commission from that) A couple of days ago I decided to give it a try and set up a, for that I headed to Amazon.com and ordered goodies (motherboard, graphics card, risers, processor and so on) Now, in total, I spent $960 for a bare minimum, just one GPU, which I'm planning to extend during 2018, by adding a new card once in the month.
I decided to compare/forecast/predict - should I rather had invested $960 directly purchasing ethereum, zcash or monero, instead of building a mining rig. From money invested in mining rig ($960), I could buy 2.03 ETH.
By knowing approximate hashing power (22.5MH/s) and electric costs ($0.08) I calculated how much I could earn with just 1 GPU in one year. The result is not at all impressive - just 1.23 ETH. Apparently, if you are deciding to invest in mining rig - one GPU might be too short to get back your investment in a foreseen future. Ethreuem calculator As I'm planning to run a full 12 GPU Ethreum mining rig, the cost for it would be, if all parts bought at once - $3,880.93. For that money, I could buy 8.21 ETH.
Let's see how much ETH a 12 GPU mining rig could theoretically produce in a year: Ethereum calculator for 12 GPU 14.73 ETH - Now, that already seems as a nice result. If converted back to the USD using today's ETH pricing ( which is wrong, as we have no clue what will be the price for ETH at the end of 2018) we could get $6959.33, or profit at $3,079. These calculations are just for the illustration as we don't have any clue what will be the ETH price in a year - it could go to the moon or it could dip. It's still like a gambling to me.
Also, there is a huge possibility Ethereum switching from Proof of Work to Proof of Stake, putting miners in unclear future. On the other hand, there are other coins we could mine with GPU in 2018, Zcash or Monero for example.
Let's apply the same maths for Monero (XMR) • 1 GPU $960 = 3.77XMR • Mined in a year = 1.57 XMR Monero Calculator 1 GPU Let's see what happens with 12 GPU Monero mining rig: • 12 GPU $3,880.93 = 15.26 XMR • Mined in a year: 18.89 XMR Monero calculator 12 GPU Profitable, but not as lucrative as mining ether. Mining Monero would break even after a year of operations. Zcash (ZEC) • 1 GPU $960 = 3.09 ZEC • Mined in a year = 1.6 ZEC Zcash calculator 1 GPU Again, let's calculate 12 GPU Zcash mining rig • 12 GPU $3,880.93 = 12.51 ZEC • Mined in a year: 19.24 ZEC Zcash 12 GPU calculator Now, better than Monero, but worse than Ethereum. Well, it's clear where most GPU power will go in case Ethereum implements PoS protocol in 2018/.
Nothing is certain for sure, but if looking from the perspective of December 2017, then it seems it's worth invest in mining if you have at least $2,000 to invest. For smaller amounts - it's easier, faster and simpler just to buy and hold. Affiliate link here: If you are just planning to acquire your first bitcoin, ethereum or litecoin, consider to, once you buy or sell $100 (€85) of digital currency or more, we will both get $10 (€8) of free bitcoin. And remember, your capital is at risk - you could lose some or all of your money. I believe a 6 GPU mining rig could be built for about $2,000 and seems that 6 GPU is a break-even point when mining seems at least an option to consider. For 2018 I'm planning both to buy and mine coins.
What about you? Are you a seasoned miner?
Leave a comment - readers and I would love to hear! • 9463 reads.
Monero (XMR) is a Cryptonight algorithm based alternative crypto currency. The coin is based on Proof of Work and has a block reward that varies smoothly. The difficulty re-targets every block with a sixty second block target. On Cryptocompare.com Monero uses a Ring Signature system to protect your privacy, allowing users to make untraceable transactions. • Privacy (Untraceable payments, Unlinkable transactions) Monero daemon uses the original CryptoNote protocol except for the initial changes (as the block time and emission speed).
The protocol itself is based on ring signatures (Daniel J. Bernstein’s Curve25519 + Ed25519, Schnorr signatures on a Twisted Edwards curve) and stealth addresses.
The end result is passive, decentralised mixing based on heavily-tested algorithms. • Decentralisation The smart mining[20] forthcoming feature will allow transparent CPU mining on the user’s computer, far from the de facto centralization of mining farms and pool mining, pursuing Satoshi Nakamoto’s original vision of a true p2p currency. • Scalability Monero has no hardcoded limit, which means it doesn’t have a 1 MB block size limitation preventing scalability. Anyone can mine Monero with a CPU or GPU using. 1st, you’ll need to setup an account with. Once you have setup your account, login and download the MinerGate software.
Just click the downloads link once you are logged into your account. You will have 3 options, “GUI Miner”, “Console Miner”, and “Admin Edition” (see screenshot below). The GUI Miner is the simplest option. Console Miner and Admin Edition are for more advanced users. Once you have installed the software, open the miner and run the “Benchmark”.
This will score your system accordingly. Dogecoin DOGE Online Mining Free. One of the cool features to is the achievements you earn using the software. It’s just an added feature for fun. Once you complete the benchmark test, click on the “Miner” tab, you will see Monero (XMR).
From here, you can choose how many cores to use for your CPU or GPU.